The White House hailed the promise of an International Monetary Fund bailout for Ukraine, saying it was a key part of a package of aid to help political and economic transition in the former Soviet republic.
“This represents a powerful sign of support from the international community for the Ukrainian government, as we help them stabilize and grow their economy, and move their democracy forward,'' spokesman Jay Carney said during US President Barack Obama's visit to Rome.
“The IMF program will be a central component of a package of assistance to support Ukraine as it implements reforms and conducts free and fair elections,'' Carney said in a statement.
The IMF announced a US$14-US$18 billion bailout for Ukraine to avoid bankruptcy but it comes with painful and unpopular reforms.—AFP